Machine Tool Market size was valued at US$ 125.1 Bn. in 2022 and the Machine Tool Market revenue is expected to grow at 6 % from 2023 to 2029, reaching nearly US$ 188.1 Bn.
Machine Tool Market Overview:Global Machine tools are used for boring, shearing, cutting, grinding, and other Technologies of deformation when machining or shaping metal and other hard materials. A variety of tools that perform cutting and other deformation operations are combined with machine tools. All machine tools have some method of limiting the workpiece in addition to the guided movement for the parts. To know about the Research Methodology :- Request Free Sample Report Machine tools are currently powered by electricity or hydraulics rather than by human muscles. Manufacturers of machine tools concentrate on creating items that require less maintenance. There are essentially two Technologies of machine tools: CNC and conventional. Due to their great efficiency, productivity, and precision, CNC machine tools are now favored by consumers or end users more than other technologies or tools. participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Machine Tool Market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Machine Tool Market's contemporary competitive scenario. Covid-19 Impact: The COVID-19 pandemic had a negative effect on the growth of the machine tools market. Due to limited sales activity in several countries throughout the world, machine tool manufacturers suffered income losses. The vehicle and auto component industry, which accounts for about 45 % of the machine tools market, was also severely affected by the pandemic. Global supply chains have faced considerable hurdles as a result of the pandemic. The early COVID-19 pandemic's global lockdowns, ranging in severity, hindered or temporarily stopped the movement of finished goods and raw materials, impacting the manufacturing industry all over the world.
Machine Tool Market Dynamics:Market drivers: Growing Hybrid Machine Tool & Additive Manufacturing Adoption to Drive Demand The market is being driven by an increase in additive manufacturing. Additive manufacturing is becoming more widely used as a result of manufacturers moving toward efficient and quick production methods. Additionally, it is expected that the market growth as a result of the growing popularity of manufacturing capabilities for heterogeneous materials. Additive manufacturing is used in CNC manufacturers' operations. For instance, Okuma intends to release its new Laser EX machines in the forecast, which support self-cooling, heating by laser emission, and laser hardening for carbon steel materials. Therefore, such creative technological combinations are expected to support market growth in the forecast period. Market restraints: The market is being hampered by changes in the state of the global economy. Sales of these instruments are closely linked to manufacturing industry expenditures. As a result, a slowdown in the global economy is expected to have a direct impact on the revenue generated by machine tools. Owing to the extensive use of machinery in the sector, trends in the automobile industry have also had a greater impact on the tools sector. However, the market revenue is significantly impacted by patterns in capital expenditure in the car manufacturing sector. Unexpected shifts in a nation's political, social, or economic conditions also have an effect on the development of the market's income. Market Opportunities: A prominent trend is a rising need for smart machine tools. Technological developments like the growing use of robotics and human-machine interaction are seen to have an impact on market growth at the moment. The demand for real-time connectivity is also fueling the emergence of smart factories that are cloud-enabled. As a result, the tool is becoming an essential component of smart systems and is expected to boost the popularity of the product. These sophisticated equipment have sensors that help schedule maintenance and optimize machine time. It is possible to examine this data and increase productivity. Additionally, the sensors enhance predictive analyses on the lifecycle of these tool parts. This considerably reduces downtime and helps with ideal time issues. Additionally, it is expected that the rapid adoption of smart features, such as decreased power consumption, supports the revenue growth of the machine tool market. Competitive Landscape: The machine tool market has a number of firms competing for the same market share, including both large international companies and small- and medium-sized local businesses. China, Germany, Japan, and Italy are significant rivals in the market for machine tools. Less than 20 German companies are currently manufacturing full units abroad, excluding the several hundred sales and service subsidiaries or branch offices of German machine tool makers around the world. Businesses are concentrating on creating more automated solutions due to the rising preference for automation. The tendency of industrial consolidation through mergers and acquisitions is also being seen. These tactics aid businesses in growing into new markets and attracting new clients.
Machine Tool Market Segment Analysis:Based on technology, The CNC (Computerized Numerical Control) segment is expected to grow at the highest CAGR during the forecast period. CNC Tool Demand is Being Fueled by Machine Tool Digital Transformation The market is divided into computerized numerical control (CNC) and conventional segments based on technology. Due to the rising need for process automation across sectors, the CNC tools segment is expected to dominate the market in the forecast period. Further expected market growth is the growing automation of manufacturing processes as a result of the rising demand for greater precision and shorter lead times. Therefore, major manufacturers are concentrating on developing CNC systems to meet the diverse industry requirements. Because end users are switching from traditional machines to CNC machines, the conventional tools market is expected to rise steadily in the near future. The growth of this sector is, however, being constrained by a lack of competent workers. Based on product, The Metal Cutting segment is expected to grow at the highest CAGR during the forecast period. The market is divided into metal cutting and metal forming segments based on the product Technology. Due to rising demand from a variety of industries, including the construction and automotive sectors, the metal cutting tools market is expected to maintain its dominance throughout the forecast period. The development of the automotive sector has been positively impacted by the ongoing improvements in management and manufacturing processes. The building industry has prolonged as a result of the increased demand for office space and residential development. Additionally, the machine tool business is expected to grow as a result of the rising demand from the aerospace sector due to the cost advantages. Metal forming equipment is employed in a variety of operations, including forming, bending, shaping, pressing, and shearing. The market for metal forming tools is expected to be driven by the use of press brake equipment. This is due to the widespread usage of press brake metal forming machines as a tool for sheet bending in numerous production sectors, including agriculture, automotive, aerospace, shipbuilding, and petroleum machinery. Based on application, The Automotive segment is expected to grow at the highest CAGR during the forecast period. The market is segmented into automotive, general machinery, precision engineering, transport machinery, and other categories depending on the application. Owing to the widespread use of various tools in the automobile manufacturing industry, the automotive segment currently maintains the largest market share for machine tools. For instance, certain automobile components including engine locks, piston rods, wheels, and gearbox cases are produced using milling. Owing to the rising need for high accuracy in the production of complex products, the precision engineering market is expected to grow at the fastest rate. Precision engineering is growing as a result of the semiconductor, medical technology, and marine sectors' explosive need. The precision engineering sector is growing as a result of the growing opportunities in cutting-edge materials, sensors, and lasers and optics. Because of the demand for customization across the various industrial sectors, the rising demand for general and transportation machinery is expected to lead to machine tool market growth.
Regional Insights:The largest portion of the market is in Asia Pacific. Regional growth is a result of the soaring demand for these tools from a variety of industries, including automotive, manufacturing, construction, and aerospace. The government's evolving initiatives are increasing market income. For instance, the "Make in India" campaign promotes FDI (foreign direct investment) and tax breaks for India's manufacturing industry. In addition, it is anticipated that the Automotive Mission Plan and the National Electric Mobility Mission Plan, which encourage the use of electric vehicles, further propel the market in the forecast period. China see the highest CAGR Its Competitive Advantage Due to its competitive advantage over other regions, China is expected to grow at the fastest rate. It is expected that demand rise in China as a result of the country's robust manufacturing sector growth, particularly in the fields of industrial machinery, precision engineering, and transportation equipment. Additionally, the market is expected to benefit from a continued trend toward higher-value goods such CNC machines, machining centres, and multifunctional machines. Owing to the rising demand from the manufacturing sector, North America is expected to increase significantly. Additionally, the U.S. is a world leader in R&D activities for advancing technology and developing effective engineering procedures. This is because there are so many foreign players in the area. Latin America is expected to increase steadily as a result of Brazil's challenging situation. Brazil's national statistics agency reports that production in this nation decreased by 0.3% after increasing by 0.4% the previous month. The objective of the report is to present a comprehensive analysis of the Machine Tool Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Machine Tool Market dynamics, structure by analyzing the market segments and project the Machine Tool Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Machine Tool Market make the report investor’s guide.
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Machine Tool Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 125.1 Bn. Forecast Period 2023 to 2029 CAGR: 6 % Market Size in 2029: US $ 188.1 Bn. Segments Covered: by Technology CNC (Computerized Numerical Control) Conventional by Product Metal Cutting Metal Forming by Application Automotive General Machinery Precision Engineering Transport Machinery Others(Energy,Electrical and etc.)
Machine Tool Market, by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players1. Doosan Corporation 2. AMADA Co., Ltd. 3. Makino 4. Jtekt Corporation 5. GF Machining Solutions 6. DMG Mori Aktiengesellschaft 7. Komatsu Ltd. 8. OKUMA Corporation 9. Hyundai WIA Corporation 10. Schuler AG 11. Chiron Group SE 12. TRUMPF Group 13. Shenyang Machine Tool Group 14. Falcon Machine Tools Co. LTd 15. Liebherr-Machine Tools 16. Ace Manufacturing Systems Limited 17. CHIRON Group SE Frequently Asked Questions: 1. Which is the potential market for the Market in terms of the region? Ans. In Asia Pacific region, the growing business and educational sectors are expected to help drive the use of collaborative screens. 2. What are the opportunities for new market entrants? Ans. The key opportunity in the market is new initiatives from governments that provide funding for Markets in educational institutes 3. What is expected to drive the growth of the Market in the forecast period? Ans. A major driver in the Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic 4. What is the projected market size & growth rate of the Market? Ans. Market size was valued at US$ 125.1 Billion in 2022 and the total Machine Tool Market revenue is expected to grow at 6 % through 2023 to 2029, reaching nearly US$ 188.1 Billion. 5. What segments are covered in the Market report? Ans. The segments covered are Technology, Product, Application, and Region.
1. Machine Tool Market: Research Methodology 2. Machine Tool Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Machine Tool Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Machine Tool Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Machine Tool Market Segmentation 4.1 Machine Tool Market, by Technology (2022-2029) • CNC (Computerized Numerical Control) • Conventional 4.2 Machine Tool Market, by Product (2022-2029) • Metal Cutting • Metal Forming 4.3 Machine Tool Market, by Application (2022-2029) • Automotive • General Machinery • Precision Engineering • Transport Machinery • Others(Energy, Electrical and etc.) 5. North America Machine Tool Market(2022-2029) 5.1 North America Machine Tool Market, by Technology (2022-2029) • CNC (Computerized Numerical Control) • Conventional 5.2 North America Machine Tool Market, by Product (2022-2029) • Metal Cutting • Metal Forming 5.3 North America Machine Tool Market, by Application (2022-2029) • Automotive • General Machinery • Precision Engineering • Transport Machinery • Others(Energy, Electrical and etc.) 5.4 North America Machine Tool Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Machine Tool Market (2022-2029) 6.1. European Machine Tool Market, by Technology (2022-2029) 6.2. European Machine Tool Market, by Product (2022-2029) 6.3. European Machine Tool Market, by Application (2022-2029) 6.4. European Machine Tool Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Machine Tool Market (2022-2029) 7.1. Asia Pacific Machine Tool Market, by Technology (2022-2029) 7.2. Asia Pacific Machine Tool Market, by Product (2022-2029) 7.3. Asia Pacific Machine Tool Market, by Application (2022-2029) 7.4. Asia Pacific Machine Tool Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Machine Tool Market (2022-2029) 8.1 Middle East and Africa Machine Tool Market, by Technology (2022-2029) 8.2. Middle East and Africa Machine Tool Market, by Product (2022-2029) 8.3. Middle East and Africa Machine Tool Market, by Application (2022-2029) 8.4. Middle East and Africa Machine Tool Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Machine Tool Market (2022-2029) 9.1. South America Machine Tool Market, by Technology (2022-2029) 9.2. South America Machine Tool Market, by Product (2022-2029) 9.3. South America Machine Tool Market, by Application (2022-2029) 9.4 South America Machine Tool Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 ADoosan Corporation 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 AMADA Co., Ltd. 10.3 Makino 10.4 Jtekt Corporation 10.5 GF Machining Solutions 10.6 DMG Mori Aktiengesellschaft 10.7 Komatsu Ltd. 10.8 OKUMA Corporation 10.9 Hyundai WIA Corporation 10.10 Schuler AG 10.11 Chiron Group SE 10.12 TRUMPF Group 10.13 Shenyang Machine Tool Group 10.14 Falcon Machine Tools Co. LTd 10.15 Liebherr-Machine Tools 10.16 Ace Manufacturing Systems Limited 10.17 CHIRON Group SE.